Unisys Corp Up 20.91% To $3.47 After Earnings Beat

Unisys Corp (UIS) beat out earnings estimates for Q3 2023 this afternoon.

Unisys Corp's earnings came in at an EPS loss of $0.33 per share, 42.00% higher than estimates for an EPS loss of $0.57 per share. The firm's earnings are down 760% since reporting $0.05 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $464.6 million. That is an increase of 0.74% in revenues from the year-ago report and is 5.67% higher than consensus estimates set at $439.7 million.

The stock is up 20.91% to $3.47 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 38. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Unisys Corp is engaged in the provision of technology solutions for clients across the government, financial services, and commercial markets. It operates through three business segments: Digital Workplace Solutions (DWS), Cloud & Infrastructure Solutions (C&I), and Enterprise Computing Solutions (ECS). DWS provides solutions that transform digital workplaces securely and create exceptional end-user experiences. C&I provides solutions that drive modern IT service platforms, cloud applications development, intelligent services, and cybersecurity services. ECS provides solutions that harness secure, continuous high-intensity computing and enable digital services through software-defined operating environments.